GST Returns and Compliances
June 2, 2017 · Nikita Bhatia · GST
Companies should understand how GST filings fit within the mandatory compliances for a private limited company. There are various GST compliances that are required to be followed under the new GST law. Following is the list of returns to be filed in detail:
Type of Return | Description | Responsibility of Filing on whom? | Due Date |
GSTR-1 | Details of outward supplies of taxable goods and/or services effected | Registered Taxable Supplier | 10th of the next month |
GSTR-2 | Details of inward supplies of taxable goods and/or services effected claiming input tax credit. | Registered Taxable Recipient | 15th of the next month |
GSTR-3 | Monthly return on the basis of finalization of details of outward supplies and inward supplies along with the payment of amount of tax. | Registered Taxable Person | 20th of the next month |
GSTR-4 | Quarterly return for compounding taxable person. | Composition Supplier | 18th of the month succeeding quarter |
GSTR-5 | Return for Non-Resident foreign taxable person | Non-Resident Taxable Person | 20th of the next month |
GSTR-6 | Return for Input Service Distributor | Input Service Distributor | 13th of the next month |
GSTR-7 | Return for authorities deducting tax at source. | Tax Deductor | 10th of the next month |
GSTR-8 | Details of supplies effected through e-commerce operator and the amount of tax collected | E-commerce Operator/Tax Collector | 10th of the next month |
GSTR-9 | Annual Return | Registered Taxable Person | 31st December of next financial year |
GSTR-10 | Final Return | Taxable person whose registration has been surrendered or cancelled. | Within three months of the date of cancellation or date of cancellation order, whichever is later. |
GSTR-11 | Details of inward supplies to be furnished by a person having UIN | Person having UIN and claiming refund | 28th of the month following the month for which statement is filed |
GST Returns and Compliances
All these returns are required to be filed digitally online through a common portal to be provided by GSTN. Businesses should track these filings as part of their annual compliance requirements.
About Nikita Bhatia
Nikita Bhatia is the co-founder of VenturEasy, an online platform for company registration, book-keeping, accounting, tax consultancy, and legal compliance in India. A Fellow Chartered Accountant (FCA) with over 14 years of experience and a Company Secretary by profession, she has wide experience in the fields of audit, accountancy, taxation, and corporate governance. For any questions/requirements, please email at [email protected]